The UK government has called in the acquisition of the country’s largest semiconductor plant by a Chinese company in a significant shift in approach to foreign takeovers.
Kwasi Kwarteng, the business secretary, said on Wednesday the takeover last year of Newport Wafer Fab by Nexperia — a Dutch subsidiary of Chinese company Wingtech — would face a review under the new National Security and Investment (NSI) act.
“We welcome overseas investment, but it must not threaten Britain’s national security,” Kwarteng said.
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